The Times Of India Business
Govt likely to stick to fiscal deficit target, says RBI governor
The government is likely to stick to its fiscal deficit target as specified in the budget and there may not necessarily be a need for increasing government borrowing just yet, governor Shaktikanta Das told CNBC-TV18 in an interview on Monday.
Paytm payments bank expects RBI curbs to be lifted in 3-5 months
Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters.
PM Modi, Softbank's Masayoshi Son discuss more investments
Prime Minister Narendra Modi and SoftBank Group founder Masayoshi Son met on Monday to discuss more investments by the country's biggest tech backer, as a startup boom appears to cool in India amid worries about the global economy.
'Inflation fight will hurt growth, risks wider fiscal gap'
The export duty hikes and tax cuts will likely hurt economic growth and raise the chances of the fiscal deficit widening, but do little to bring down retail prices within the central bank's tolerance level, economists and industry officials said.
Export duty hike: Mining, steel groups warn of adverse impact
The increase in export taxes on iron ore, announced by the government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets, a mining industry body said on Monday.
US unveils 13 nation economic pact to assert Asia leadership
The Joe Biden administration announced that a dozen Indo-Pacific countries will join the US in a sweeping economic initiative designed to counter China’s influence in the region, even as questions remain about its effectiveness.
Zomato quarterly revenue up 75% on orders, new customers
During the quarter through March, gross order value - or the total value of all food delivery orders placed on Zomato's online platform - jumped 77% year-on-year to a record high of 58.5 billion rupees ($754.40 million), while average monthly transacting customers were at an all-time high of 15.7 million.
Explained: Why metal stocks crashed today
The decision to hike export duty on iron ore and few steel intermediaries has dampened spirits of local manufacturers. On one hand the Centre is taking all efforts to tame the soaring inflation in the country, while on the other top mining and steel groups are warning of adverse impact. As a result, the metal index took a harsh beating at the bourses on Monday.
Akasa Air releases first look of its aircraft
Akasa Air on Monday has released the ‘first look’ photographs of its aircraft from its Boeing production facility in Portland as it gets ready for delivery. The airline recently reaffirmed its commitment of being on track to receive its first aircraft in India by mid-June and launch commercial operations in India by July 2022.
Heat wave in India poses risks for nation’s credit, Moody’s says
Sweltering temperatures across northwestern India may have added to inflationary pressures in the world’s second-most populous nation and weighed on growth, wrote Moody’s Investors Service. The rating firm, which has an Baa3 rating on India, one level above junk grade, said the heat waves are “credit negative” for the nation.
Petrol under-recovery at Rs 13; Reliance-BP says operations unsustainable
The joint venture of Reliance Industries Ltd and supermajor BP - has told the government that fuel retailing for the private sector in India has become unsustainable after market-controlling public sector firms frequently froze petrol and diesel prices at rates way below the cost, sources said.
India set to be leader in green hydrogen: Puri
India is more conscious of going for green energy than any other country in the world, union petroleum and natural gas minister Hardeep Singh Puri said on Monday. He said special emphasis is being given on green hydrogen, biofuel blending and exploration and production of biofuel from alternative sources.
I'm not running your Twitter account, Musk tells Pune techie
On Monday, Elon Musk said that he is not running Pathole's Twitter account. Pathole, who has more than 1.6 lakh followers, tweeted: "Many people think that @elonmusk runs my Twitter account. And it's TRUE. He's a super busy guy, building rockets, making life multiplanetary, building futuristic electric vehicles, digging tunnels. And somehow he finds time to run multiple Twitter accounts. YES."
Explainer: What's in Biden's proposed new Asia trade pact?
Once talks start, negotiations are expected to go 12 to 18 months, an aggressive timeline for a global trade deal, according to an administration official. The official insisted on anonymity to discuss plans and added that building consensus inside the US will also be key.
Sensex, Nifty subdued as weakness in metals counters automobile gains
Domestic indices were little changed on Monday, after climbing nearly 3% in the previous session, as a sharp selloff in metal stocks countered gains in the automobile sector. The Nifty metals index dropped 6.6%, while the Nifty auto index rose 2%. Among individual stocks, One 97 Communications, the parent of digital payments firm Paytm, fell 2.2%.
